RESIDENTIALlettings
freehold is owned by an individual and they may have died. Alternatively they have moved and not informed the Land Registry of their new address, as is their obligation. If your freeholder tells you they sold
the freehold to someone else, even though the original freeholder’s details are on the Title, then they are still the ‘landlord’. It is their legal obligation to ensure the record is up to date. It is also their legal obligation to offer you first refusal on any sale of the freehold. If your best efforts throw up a blank and you and your fellow lessees cannot find the freeholder then you can consider making a legal application for a Vesting Order through a County Court. When you have the Vesting Order, you
can then apply to the Leasehold Valuation Tribunal (LVT) for them to establish the cost to you to buy the freehold. You should be able to buy the freehold much cheaper than if you COULD find your freeholder, because the LVT will consider your ‘offer’ price. Since there is no counter offer, as long as your initial offer is reasonable, you
The freeholder has a legal
obligation to offer the leaseholder first refusal on any sale of the freehold.’
can pay the relevant County Court the agreed amount and begin the process of acquiring your freehold.
HOW dO I dO It myself? You may not be surprised to hear someone from an association representing specialist surveyors, solicitors, intermediaries and managing agents in leasehold enfranchisement suggest that this might not be the best route! Our members
frequently pick up the pieces from failed attempts to go it alone. At this point the lease has shortened further, adding further cost to the flat owner. And the freeholder may be a lot less co-operative if they have been given a rough ride. What is more, this is a complex process. If you have the time to learn the law, understand the valuation principles and negotiate and communicate with the freeholder and his representatives then it is worth a try if you are confident and organised. If you work full time and enjoy hobbies, consult the specialists on the ALEP website before you make any big leasehold enfranchisement decisions!
Andy Szebeni is Promotions and Member Services Officer at the Association of Leasehold Enfranchisement Practitioners (ALEP). Its 110 national members are vetted for experience in the sector. Visit
www.alep.org.uk or call ALEP on 0845 225 2277.
Add your own experiences to the issue:
www.propertydrum.com/articles/ALEP
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PROPERTYdrum MARCH 2011 55 21/2/11 13:03:22
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